Laise, Eleanor. (22 Apr 2008) Term Paper

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Potential employers, landlords and insurers routinely examine credit reports" (Laise 2008). However, lenders are getting 'wise' to consumer manipulation and new scoring systems may complicate consumers' efforts to monitor and improve their scores. New models place "more emphasis on having a variety of credit types, such as installment loans and revolving accounts like credit cards, while increasingly penalizing people who use a big chunk of their available credit" (Laise 2008).

There seems to be something strange about a system that rewards consumers for having lots of unused credit cards. This is supposed to show the potential borrower is not using all available lines of credit.

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While paying off debt is certainly a sign someone is a good risk from a lender's point-of-view, other aspects of the system seem to encourage borrowing rather than sound financial management. Putting a greater emphasis on consumers who pay their bills on time, for example, might be better for both lenders and society at large, when calculating credit scores, than rewarding consumers who have revolving, unused access to credit and who have taken out a variety of loans, even….....

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